Resize 3D Objects in python without operator function
Simple vector maths.

The global location of any object is gl = ob.matrix_world.translation

The global location of the cursor is cl = scene.cursor.location

The vector that describes the distance and direction from object to cursor is the difference d = gl - cl

To move to a scaled location

ob.matrix_world.translation = cl + scale_factor * d


or similarly 

import bpy

context = bpy.context
scene = context.scene
cursor_loc = scene.cursor.location

scale_factor = 1.1

for o in scene.objects:
    d = o.matrix_world.translation - cursor_loc
    o.matrix_world.translation += (scale_factor - 1) * d